Global Innovative Platforms Inc. Files Q1 2025 10-Q

TL;DR

GIP filed its 10-Q for Q1 2025. Check financials.

AI Summary

Global Innovative Platforms Inc. filed a 10-Q for the period ending December 31, 2024. The company, formerly known as Canning Street Corp, is incorporated in Delaware and operates in the real estate and construction sector. Their fiscal year ends on September 30th, and their principal business address is in Maitland, Florida.

Why It Matters

This filing provides investors with an update on the company's financial performance and position for the first quarter of fiscal year 2025, offering insights into its operational status.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediately apparent significant financial distress or unusual events indicated in the provided metadata.

Key Numbers

• 20241231 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20250207 — Filing Date (Shows when the report was submitted to the SEC.)
• 0930 — Fiscal Year End (Defines the company's annual reporting cycle.)

Key Players & Entities

• Global Innovative Platforms Inc. (company) — Filer of the 10-Q
• Canning Street Corp (company) — Former name of the filer
• 149 JAMES PLACE, MAITLAND, FL 32751 (location) — Business and mailing address
• 321-230-3739 (phone_number) — Business phone number

FAQ

Filing Documents

• e6340_10q.htm (10-Q) — 499KB
• e6340_ex31-1.htm (EX-31.1) — 8KB
• e6340_ex32-1.htm (EX-32.1) — 5KB
• 0001731122-25-000183.txt ( ) — 2450KB
• cstc-20241231.xsd (EX-101.SCH) — 19KB
• cstc-20241231_cal.xml (EX-101.CAL) — 24KB
• cstc-20241231_def.xml (EX-101.DEF) — 53KB
• cstc-20241231_lab.xml (EX-101.LAB) — 190KB
• cstc-20241231_pre.xml (EX-101.PRE) — 156KB
• e6340_10q_htm.xml (XML) — 204KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 2 Condensed Balance Sheets (Unaudited) as of December 31, 2024 and September 30, 2024 (Audited) 2 Condensed Statements of Operations (Unaudited) for the Three Months Ended December 31, 2024 and 2023 3 Condensed Statements of Stockholders' Deficit (Unaudited) for the Three Months Ended December 31, 2024 and 2023 4 Condensed Statements of Cash Flows (Unaudited) for the Three Months Ended December 31, 2024 and 2023 5 Notes to Condensed Financial Statements (Unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17

- OTHER INFORMATION

PART II - OTHER INFORMATION 17 Item 1.

Legal Proceedings

Legal Proceedings 17 Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 19

SIGNATURES

SIGNATURES 20 1 PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GLOBAL INNOVATIVE PLATFORMS, INC. CONDENSED BALANCE SHEETS DECEMBER 31, SEPTEMBER 30, 2024 2024 (Unaudited) (Audited) ASSETS Current Assets Cash and Cash Equivalents $ 148,459 $ 15 Total Current Assets 148,459 15 Total Assets $ 148,459 $ 15 LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 14,407 $ 753 Loan Payable – Related Party — 32,400 Total Current Liabilities 14,407 33,153 Total Liabilities 14,407 33,153 Commitments and Contingencies (Note 8) — — Shareholders' Deficit Preferred Stock, $ 0.0001 par value, 10,000,000 shares authorized, 0 issued or outstanding — — Common Stock, $ 0.0001 par value, 1,990,000,000 shares authorized, 37,301,241 and 33,745,491 issued and outstanding 3,730 3,374 Stock Subscriptions — 75 Additional Paid in Capital 788,001 500,625 Retained (Deficit) Earnings ( 657,680 ) ( 537,212 ) Total Shareholders' Deficit 134,051 ( 33,138 ) Total Liabilities and Shareholders' Deficit $ 148,459 $ 15 The accompanying notes are an integral part of these condensed financial statements 2 GLOBAL INNOVATIVE PLATFORMS, INC. CONDENSED STATEMENTS OF OPERATIONS ( UNAUDITED ) FOR THE THREE MONTHS ENDED DECEMBER 31, 2024 FOR THE THREE MONTHS ENDED DECEMBER 31, 2023 REVENUE $ — $ — EXPENSES General and administrative expenses 120,467 49,469 Total Expenses 120,467 49,469 OPERATING LOSS ( 120,467 ) ( 49,469 ) OTHER INCOME (EXPENSE) — — Total Other Income (Expense) — — INCOME (LOSS) BEFORE TAXES ( 120,467 ) ( 49,469 ) TAXES — — NET INCOME (LOSS) $ ( 120,467 ) $ ( 49,469 ) Net Income (Loss) per Common Share: Basic and Diluted $ ( 0.003 ) $ ( 0.002 ) Weighted Average Common Shares Outstanding: Basic and Diluted 35,745,288 20,637,355 The accompanying notes are an integral part of these condensed

Business

Business Global Innovative Platforms Inc., a Delaware corporation, ("Global Innovative Platforms," "Canning Street," "the Company," "We," "Us" or "Our') is a publicly quoted company in the business of measuring gas outflow in pets and agriculture for diagnosis treatment of illness. We are pursuing opportunities for growth and will seek capital in return for shares of our common stock to create value for our shareholders, although there is no guarantee that the Company will be able to successfully close such transactions. History Global Innovative Platforms Inc. f/k/a Canning Street Corporation or Canning Street was incorporated in Delaware on September 15, 2020. Effective September 30, 2020, following a corporate reorganization as described below (the "Holding Company Reorganization" or "the reverse recapitalization"), Canning Street became the reorganized successor to Alexandria Advantage Warranty Company, a publicly quoted holding company that ceased trading in 2016. Reorganization into a Holding Company Structure for Canning Street Corporation, reorganization successor to Alexandria Advantage Warranty Company. Effective September 29, 2020, Alexandria Advantage Warranty Company ("Alexandria Advantage Colorado'), a Colorado corporation, redomiciled to Delaware by merging with its wholly owned subsidiary, Alexandria Advantage Warranty Company ("Alexandria Advantage Delaware"), a Delaware corporation. Alexandria Advantage Colorado ceased to exist as an independent legal entity following its merger with Alexandria Advantage Delaware. Pursuant to the Delaware Holding Company formation statute, DGCL Section 251(g), Alexandria Advantage Delaware entered into an Agreement and Plan of Merger and Reorganization into a Holding Company with Canning Street Corporation ("Canning Street") and AAWC Corporation ("AAWC"), both wholly-owned subsidiaries of Alexandria Advantage Delaware, effective September 30, 2020. The Agreement and Plan of Merger and Reorganizati

Legal Proceedings

Legal Proceedings We were not no legal proceedings are pending or threatened. Contractual Obligations We are not party to any contractual obligations at this time other than our Patent and License Know-How Agreement with Defiant Technologies, Inc. as modified on August 18, 2024. NOTE 7. SHAREHOLDERS' DEFICIT Preferred Stock As of December 31, 2024, we were authorized to issue 10,000,000 shares of preferred stock with a par value of $ 0.0001 . No shares of preferred stock were issued and outstanding during the three months ended December 31, 2024 or as of September 30, 2024. 12 GLOBAL INNOVATIVE PLATFORMS INC. Notes to the Condensed Financial Statements (Unaudited) No series of preferred stock or rights for preferred stock had been designated at December 31, 2024. Common Stock As of December 31, 2024, we were authorized to issue 1,990,000,000 shares of common stock with a par value

View Full Filing

View this 10-Q filing on SEC EDGAR